Property Q&A in Northwest>Question Details

Kathy Watson, Home Buyer in Virginia Beach, VA

Condo fee? Amout?

Asked by Kathy Watson, Virginia Beach, VA Tue Jan 22, 2013

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5
Hello Kathy,
Your question has been answered by several agents already but I wanted to add the condo fee covers the grounds maintenance, trash, and I believe sewer and water as well. If you have any greater interest in this condo or any others I would be happy to assist. Have a great day! Jen Basnight
Web Reference: http://www.jenbasnight.com
0 votes Thank Flag Link Tue Jan 22, 2013
Kathy

The condo fee is currently $258 a month. This particular listing is a short sale in which the seller needs to get a an approval from the lenders on the property. No one really knows how long it will take to get an approval, or if the bank will foreclose on the property first. On a short sale, the properties are sold "as is" and typically the banks will not make repairs. Yes, I am speaking from my experiences as I have experience on both on the listing and selling sides of short sales.

There are 85 units in the complex and 52% of them are rentals. The complex is VA approved, but not FHA approved as I looked up both. On FHA it says rejected, I am thinking one of the main reasons is the number of rentals units.

If you would like to discuss further, or if I can be assistance in your search, feel free to give me a call.

David Phillips
REALTOR-ABR, GRI, CSP
The Real Estate Group
757-816-1676
0 votes Thank Flag Link Tue Jan 22, 2013
Hi Kathy,
Yes there is a condo fee for this property. It is $258/month. Please contact me, if you have additional questions or if I can assist you further in your search for a property.

Richard Tate
Rose and Womble Realty
757-705-0822
rtate@roseandwomble.com
0 votes Thank Flag Link Tue Jan 22, 2013
This property does have a condo fee that is $258 /mo. Give me a call at 757-513-2232 or email me at rpittman@movewithfirst.com and we can set up a time to go see this property as well as discuss what you are looking to do and what other options could be available to you.
0 votes Thank Flag Link Tue Jan 22, 2013
Hello Kathy. The monthly condominium fee for this property is $258.00. Regretfully, the listing information is incomplete with respect to exactly what it covers.

This listing is, as you may be aware, a 'short sale' listing and the listing agent acknowledges that no approvals at all have been obtained from the current owner's lender[s] in regard to that process. Accordingly, I would speculate that a significant amount of time would be involved in waiting for such approval and for, consequently, your ability to close on this purchase.

If I can provide further information or assistance, please do not hesitate to let me know that.

Best regards.
Wayne Goodman
0 votes Thank Flag Link Tue Jan 22, 2013
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